United Capital Management of KS Inc. Acquires New Stake in Baker Hughes Company $BKR

Key Points

• United Capital Management of KS Inc. has acquired 88,623 shares of Baker Hughes Company, valued at approximately $3.89 million.
• Several institutional investors have increased their stakes in Baker Hughes, with a significant increase of 678.7% from Golden State Wealth Management LLC in the first quarter.
• Baker Hughes recently reported earnings of $0.63 per share, exceeding expectations, and announced a $0.23 quarterly dividend set to be paid on August 15th.

United Capital Management of KS Inc. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 88,623 shares of the company's stock, valued at approximately $3,895,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prosperity Consulting Group LLC increased its holdings in shares of Baker Hughes by 2.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock valued at $463,000 after acquiring an additional 278 shares during the last quarter. Greenleaf Trust raised its stake in shares of Baker Hughes by 2.2% during the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock worth $609,000 after purchasing an additional 293 shares in the last quarter. Commerce Bank increased its holdings in shares of Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after acquiring an additional 300 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Baker Hughes by 7.7% during the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock valued at $185,000 after acquiring an additional 301 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BKR. TD Cowen upped their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley increased their price objective on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. BMO Capital Markets reissued an "outperform" rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Stifel Nicolaus cut their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $46.00 price objective (up from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.47.

Baker Hughes Stock Up 0.2%

NASDAQ:BKR traded up $0.08 on Tuesday, hitting $42.95. The stock had a trading volume of 3,790,130 shares, compared to its average volume of 7,889,360. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business's fifty day moving average is $40.99 and its 200 day moving average is $40.78. The company has a market cap of $42.34 billion, a PE ratio of 14.04, a P/E/G ratio of 1.95 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.Baker Hughes's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.